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Deed for House and Property

 
 
cicerone imposter
 
  1  
Reply Tue 12 Aug, 2008 09:45 am
joe provided the best advise; get a real estate lawyer who understands local laws to clear up this mess - ASAP, because unless it's done soon, it can be tied up legally for years at great cost.
0 Replies
 
jodie34
 
  1  
Reply Tue 12 Aug, 2008 10:07 am
I will try to clarify this matter.
1. Dad has always favored the sons in the family, the older one is deceased. The younger son has Power of Attorney for our father.
Dad listed all of the siblings on a paper drawn up by the attorney in Virginia. Each sibling was approached separately by both Dad and the youngest son asking how much they they wanted for their part of the family home. The agreement is ,Dad can live in the family home as long as he lives. At that time the home is to pass on to the siblings.
2. The paper was sent to all the siblings , all but one sister have signed.
3. There is some resistance by the sister and the son , each is stubborn about bringing up the signing , waiting for the other to address the subject.
4. Dad, it appears has told the son that he does not have to buy out the others, that he ( the son) can live there as long as he wants " and nobody can do anything about it.."
5. Apparently the son does not want to part with the money and is dragging his feet about completing what he started. In effect he thinks he can live in the house as long as he wants to.
6. Current question - Any idea the length of time this agreement is valid? Dad seems to think it is unlimited.





























7. Talking to Dad is not really an option, it will only harden his resolve.
8. When Dad is gone, how much time is allowed until the estate must be s settled?
9. I am in Indiana, the family is in Virginia and Tennessee. How would I go about getting an attorney ? Should I contact the attorney that drew up the sale agreement ?
10 . Do I need some legal paperwork to have my name removed from the agreement. It does not appear any money will change hands soon. If no money has changed hands, I believe that would negate my signature any way ( ?)
0 Replies
 
cicerone imposter
 
  1  
Reply Tue 12 Aug, 2008 11:19 am
cicerone imposter wrote:
joe provided the best advise; get a real estate lawyer who understands local laws to clear up this mess - ASAP, because unless it's done soon, it can be tied up legally for years at great cost.



You continue to add new information to this situation, and it's not helping; it makes it more confusing. As joe suggested, get a real estate attorney who understands the local laws where the property is located. Most states have their own quirks on the laws.
0 Replies
 
sullyfish6
 
  1  
Reply Tue 12 Aug, 2008 11:24 am
Jodie - you have been told to get an attorney - but you need a copy of that "agreement" because this whole situation is VERY confusing, as told by you.

For example, you said:
"Each sibling was approached separately by both Dad and the youngest son asking how much they they wanted for their part of the family home."

Which makes me wonder : WHO owns the house NOW?

If it is Dad ONLY, he can will the house to ANYONE he wants. All of you or just one person. He does not need your signature to will his house to another person.

I don't understand what "their part" of the house means.
0 Replies
 
joefromchicago
 
  1  
Reply Tue 12 Aug, 2008 03:22 pm
I'm with sullyfish now: I have no idea who owns the property. It sounds like dad still owns it, in which case he can let your brother stay there for as long as he is alive. And if your dad wants your brother to stay there longer, then he better draft a will.

I'll only address one of your questions, jodie:
jodie34 wrote:
9. I am in Indiana, the family is in Virginia and Tennessee. How would I go about getting an attorney ? Should I contact the attorney that drew up the sale agreement ?

Ask friends and family for references. Contact the county bar association and ask it to provide a list of lawyers who specialize in real estate matters. Do a web search for lawyers in that area. Consult the Yellow Pages.

I would advise against contacting the lawyer who drafted the sale agreement, since there might be a conflict of interest between you and your father and siblings. You want a lawyer who is representing your interests, not everybody's interests.

All of the other questions that you asked can be answered BY AN ATTORNEY, not by us. There is only so much help that we can offer you, and that limit has now been reached.
0 Replies
 
jodie34
 
  1  
Reply Wed 13 Aug, 2008 10:03 am
Thank you to all that tried to help. The attorney route seems to be the most logical . I apologize for the confusion.
As stated in the opening post, the property was deeded to the children. One child wanted to attain full ownership.
The southern way of asking the siblings to assign a value for their % of the total value, is to ask 'what do you want for your part?' In other words, each of the 5 siblings is an owner, ie, 20% ownership.
Therefore, I want to buy your 20% of the total, how much money will it take to buy " your part" ?
Thanks again for your advice. This is not easy, doing things long distance.
0 Replies
 
cicerone imposter
 
  1  
Reply Wed 13 Aug, 2008 11:18 am
It's difficult enough even when localized; it's about sibling in-fighting, misunderstandings, and money - not necessarily in that order.

That's the reason why when we had our sibling meeting after our mother's funeral, I didn't want any part of our mother's home. I believed from very early on in my adult life that more families break up over the parent's assets and its distribution than most other things in life. It just wasn't worth it to me to argue about property and money vs keeping our family together.
0 Replies
 
Thomas Nivada
 
  0  
Reply Fri 26 Apr, 2013 12:40 am
You can get contact with the legal advisor and have the best suggestions from the him. As far as my personal information is concerned so I suggest that you all siblings can finish the agreement with the proper legal steps.
0 Replies
 
 

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